According to data released by the International Copper Research Organization (ICSG) on Wednesday, the global copper market is expected to have a shortage of 320,000 tons this year. In 2020, it is expected to have an oversupply of 281,000 tons.

The specific data is as follows (unit: thousand tons)

                            2018 2019 2020

Mine copper production 20,575 20,483 20,921

Refined copper production 24,098 24,250 25,281

Refined copper consumption 24,502 24,570 25,000

Global refined copper supply and demand -404 -320 281